Odd Lots

Google Search Activity Shows U.S. Consumers Finally Starting to Moderate

Shoppers wait in line outside of a Chicago downtown retail store as pedestrians pass by, Wednesday, May 26, 2021.Photographer: Shafkat Anowar/AP Photo
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A look at search activity on Google indicates that U.S. consumers may be cooling off a little bit.

Ben Breitholtz, a data scientist at Arbor Research, examines Google search activity as a gauge for consumer sentiment. On an episode of the “Odd Lots” podcast last year, he explained how watching this data was helpful in navigating the recovery in real time. Right now, he’s seeing some signs that the torrid pace of consumption we’ve seen is starting to cool just a little.